State Street Corporation (STT)
Financials · $48.9B market cap · SEC CIK 0000093751
fundamentals score out of 100
Next reports on Oct 14, 2026, before the open, with analysts expecting $3.68 in earnings per share.
The case for STT
- 21% of revenue drops through to net profit.
- Earnings per share up 26.6%.
- Pays a 3.9% dividend while you wait.
- Reasonably priced at 14.2× earnings.
- A PEG of 0.53: a P/E of 14.2× is low for EPS growing 27%.
- Up 62.5% over the past year.
The case against
- Stability is weak (36/100): beta 1.39, a 47% swing over the year.
- Weakest against its peers: return on equity of 12% is lower than 65% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 66 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 52 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 54 |
| Momentumhow the price has behaved lately | 81 |
| Stabilityhow violently it moves, what it owes and what it pays you | 36 |
- Its one-year revenue change (+181%) is far out of line with its five-year trend (+7% a year). In the Financials sector that is usually interest income swinging with rates rather than growth, so only the five-year figure is used.
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 14.2× |
|---|---|
| Price / book | 1.66× |
| Price / sales | 1.8× |
| Revenue growth (YoY) | +181.2% (not used: out of line with the five-year +7.3% a year) |
| EPS growth (YoY) | +26.6% |
| Gross margin | — |
| Operating margin | 25% |
| Net margin | 21% |
| Return on equity | 12% |
| Debt / equity | 1.08× |
| Current ratio | n/a |
| Dividend yield | 3.92% |
| Beta | 1.39 |
| 52-week range | $104.64 – $195.93 |
| Position in that range | 83% of the way up |
| 3-month return | +9.6% |
| 1-year return | +62.5% |
Five years of financials, as filed
Pulled from State Street Corporation's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $13.9B | $13.0B | $11.9B | $12.1B | $12.0B |
| Net income | $2.9B | $2.7B | $1.9B | $2.8B | $2.7B |
| Operating cash flow | $11.9B | -$13.2B | $690M | $12.0B | -$6.7B |
| Capital expenditure | $1.1B | $926M | $816M | $734M | $811M |
| Total assets | $366B | $353B | $297B | $301B | $315B |
| Total liabilities | $338B | $328B | $273B | $276B | $287B |
| Shareholder equity | $27.8B | $25.3B | $23.8B | $25.2B | $27.4B |
| Cash | $4.4B | $3.1B | $4.0B | $4.0B | $3.6B |
| Free cash flow | $10.8B | -$14.1B | -$126M | $11.2B | -$7.5B |
| Net margin | 21.1% | 20.7% | 16.3% | 22.8% | 22.4% |
| Diluted shares | 289M | 302M | 327M | 370M | 358M |
Share count is down 19.3% over 4 years. Buybacks have been shrinking the pie.
What State Street Corporation says it does
". Information about dividends declared by our Parent Company and dividends from our subsidiary banks is provided under "Capital" in "Financial Condition" in our Management’s Discussion and Analysis, and in Note 15 to the consolidated financial statements in this Form 10-K, and is incorporated herein by reference. Future dividend payments of State Street Bank and our non-banking subsidiaries cannot be determined at this time. In addition, refer to "Capital Planning, Stress Tests and Dividends" in "Supervision and Regulation" in Business in this Form 10-K and the risk factor "Our business and capital-related activities, including our ability to return capital to shareholders and repurchase our capital stock, may be adversely affected by our implementation of regulatory capital and liquidity standards that we must meet or as a result of regulatory capital stress testing" in Risk Factors in this Form 10-K. Information about our equity…
Risk factors STT lists in its 10-K
- We are subject to intense competition in all aspects of our business, which could negatively affect our ability to maintain or increase our profitability
- We are subject to variability in our assets under custody and/or administration and assets under
- Acquisitions, strategic alliances, joint ventures and divestitures pose risks for our business
- The integration and the retention and development of the benefits of our acquisitions result in risks to our business and other uncertainties
- Competition for qualified members of our workforce is intense, and we may not be able to attract and retain the personnel we need to support our business
- Political, geopolitical and economic conditions and developments could adversely affect us, particularly if we face increased uncertainty and unpredictability in managing our businesses
- Our business activities expose us to interest rate risk
- Fee revenue represents a significant majority of our consolidated revenue and is subject to decline, among other things, in the event of a reduction in, or changes to, the level or type of investment activity by our clients
- We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms
- Any downgrades in our credit ratings, or an actual or perceived reduction in our financial strength, could adversely affect our borrowing costs, capital costs and liquidity position and cause reputational harm
- Supervisory Stress Testing and Capital Planning
- We face extensive and changing government regulation and supervision in the U.S. and non-U.S. jurisdictions in which we operate, which may increase our costs and expose us to risks related to compliance
- Global and Non-U.S. Regulatory Requirements
- Consequences of Regulatory Environment and Compliance Risks